IQCENT trades USDCNH [U.S. Dollar / offshore China Yuan a/k/a Renminbi]
… what’s notable about this is the following … 1) as of April 2022, USDCNH is
the 5th largest traded currency in the world, AND is growing in importance very
fast … 2) as of today, it has a 20 Day Range MA of ~ 424 PIPS, AND a 20 WEEK
RANGE MA OF ~ 850 PIPS, so it moves well to say the least … 3) it trades with
marginable leverage of 500:1, and most of the day trades with a 3 PIP bid/offer
spread [NO COMMISSIONS], which is the LOWEST COST TO TRADE
CURRENTLY that I have been able to verify … 4) active trading for the day gets
going at around 9 PM EST, with China opening at this time, and trades well into
the European session and the first half of the U.S. session that overlaps
Europe … generally speaking trading will tale off as the New York afternoon
progresses, so this is the slowest part of the USDCNH day.
Since the start of 2022, the high has been ~ 7.37400 and the low ~ 6.30600 … for
you Biden voters, that’s OVER 10,000 PIPS IN 19 MONTHS, with many more
multiple thousands of PIP moves in between the tips! … seriously, whaddaya
want? … quite frankly, I don’t care about a 3 PIP spread when we have movement
like this … find me any other dollar pair, excluding USDJPY, that even comes close
and is in the same ballpark as movement like this … for comparative purposes,
Coinexx has USDCNH with about a 4 PIP spread, or slightly higher to maybe
4.5 PIPS … so, I can easily model it with some “vegas mql4 code” for support /
resistance zones, and the 4 levels of volatility … I’ll release that on this Sunday’s
blog update.
For the record, at IQCENT ALL CRYPTO PAIRS offer the very best trading
conditions you’ll find anywhere … unfortunately right now, Bitcoin is stuck in
mud between 29K - 31K and just goes back & forth in mindless chop … in FX,
USDJPY has about 0.5 - 0.6 PIP spread, EURUSD has 0.2 - 0.3 PIP spread, and
GBPUSD has 0.6 - 0.8 spread … all with no commissions … if you’re a EURUSD
trader, IMHO it’s gonna be tough to find another house that is comparable for
LOWEST COST TO TRADE … ditto with USDJPY & GBPUSD … over in “Stock
Bellies”, the only really good index to trade is the DOW30, which has about a 2
index point spread during NYSE hours … SP500 about 0.5 index points, which
is better than average, but not the best out there … and bringing up the rear, in
what can only be described as disappointing to say the least, the NDX100 is now
around 1.5 - 1.8 index points during NYSE hours … it used to be 0.7, but that
changed about 2 weeks ago to the higher spread and hasn’t come back … IMHO,
that makes the NDX100 a “no go” for trading at IQCENT, cuz it’s just to expensive
for what you’re getting, and there are better alternatives … again, everything is
commission free.
Between USDJPY, EURUSD, & GBPUSD in FX, crypto when its moving, the DOW30
in “Stock Bellies”, and now adding USDCNH as an up & coming “mover & shaker”
as China takes more and more of a leading role in world affairs, the bases are
pretty much covered at IQCENT … gold for its part about 5 - 7 cents per OZ higher
than other competitive houses, and if gold has lower than expected ranges & VIX,
this might irritate many people … get gold rolling along with $30 - $35+ ranges
CONSISTENTLY, and a price that finally vaults over 2100 and goes higher, we’ll
see higher VIX for sure, and nobody will even notice [or care] about 5 cents per
OZ., simply cuz it won’t make any material difference in whether you make or lose
money, it’s more of a rounding error … and for the record, if you’re ONLY
interested in trading the “Stock Bellies”, the place to trade is SIMPLE FX … You
won’t want to trade anything else there, as it’s overpriced via their bid / offer
spreads and they are not competitive, but for the “Stock Bellies”, they are simply
the BEST … DOW30 spread at 2 index points, NDX100 spread at 0.7 index points,
and the SP500 spread at 0.3 index points … all with no commissions, and during
NYSE hours.
But, as everybody knows, every trader needs a “Plan B” when their primary
market goes “sleepytime” … and IQCENT delivers on that front better than any
other house I’m familiar with … stick with what I’ve listed and you’ll get the very
best conditions … wander off into other pairs and markets, and you will definitely
pay for it with higher spreads … KNOW YOUR MARKET(S) AND DO YOUR
RESEARCH! … FIGURE OUT WHAT IT IS YOU WANT TO TRADE AND WHAT YOUR
CONTINGENCY PLANS ARE FOR SLOWING VIX … TRADE WHERE IT COSTS YOU
THE LEAST AMOUNT OF MONEY, AND GIVES YOU THE BIGGEST BANG FOR
YOUR BUCK! … and I haven’t even mentioned marginable leverage, which
IQCENT has ONE OF THE HIGHEST LEVERAGE RATES AVAILABLE TO SPEC
TRADERS.
Add it all up and this is an easy exercise for the world’s most volatile markets
and for “The Syndicate” … when Bitcoin is moving, there’s no better place to be
than at IQCENT, cuz Bitcoin has a 1 penny spread with ZERO COMMISSIONS
… but, Bitcoin isn’t always moving, and we are in one of those periods now
… between the traditional top 3 dollar pairs of USDJPY, EURUSD, & GBPUSD,
and now USDCNH, ADDING IN DOW30, and one of these markets is moving
… OK then, “The Syndicate” just switches markets … for this last week or so,
I’ve been watching and observing USDCNH for trading … it can and does move
fast, and trades well starting around 9 PM EST with the China open … here today,
even before the NFP Idiocy, USDCNH has a 400 PIP range … like I said before,
if it moves I don’t care about paying a 3 PIP spread, cuz the much higher VIX
movement will eat that up quickly … and then there’s the DOW30, with 500:1
leverage for margin purposes, and IQCENT MINIMUM VOLUME IS 5 cents per
index point, incrementing upwards at 5 cent intervals … and what that means,
is that anybody / everybody can trade the DOW30, no matter how small or big
your account is.
Hell, margin requirements at 5 cents per index point is [right now as I write] $3.52
… “WAIT … WUT!?” … I mean, c'mon whaddaya want!? … anybody can trade the
DOW30, I don’t care how small your account is … and even on SLOOOOW days,
the DOW30 will usually have, at a MINIMUM, an NYSE [6 ½ hours] range of at least
200+ index points … so, if FX is slow, trade DOW30 and use the Super Scalper
Trading Algorithm as guidance … I prefer the long side cuz of the “88/6/6” paradigm
it trades in, which no other market group can claim or even come close, but if you
want to short it, the opportunity is surely there! … my point is, though, IQCENT
offers the best all round place to trade my preferable markets, from crypto to FX
to DOW30 … one of ‘em or more will be moving and offering opportunity, and
that’s why “The Syndicate” is there … if you agree, please consider signing up at
IQCENT using my affiliate link in the right hand column of the website … just click
on the image … it costs you nothing, but the house throws me some crumbs for
my efforts and helps keep my costs down in providing cutting edge commentary
& research [the dog can’t stop laughing] … thanks in advance … if not, that’s OK
too, I know how some people get … whatever … it’s all good!
Today of course is NFP Idiocy, where the math whiz kids over at the Department of
Unicorns & Fairy Tales sit around and make shit up and then throw it against the
wall for mass public consumption and propaganda … another installment of
“fun & joy” dead ahead!
Well, that escalated quickly didn’t it? … not so much the headline numbers, but
the steep revisions downward from previous months … why does anybody
believe these Assclowns? … been saying this for decades, and yet each month
everybody and their pet monkey acts like the numbers are financial Gospel, when
in fact they’re mostly bullshit … go figure … however, the bad part about NFP
Friday’s is what they do to the trade … in FX, it all but kills the day and partitions
it into a 3 ½ HR session of action, while the rest of the day is horseshit … today no
exception … “Stock Bellies” a bigger joke than usual is all you can say about that
space … I’d love to trade crude oil, but Coinexx and their lying bullshit make that
impossible … gold is “dead money” up and until the spot price breaks 2K and the
ranges get CONSISTENTLY better than they are at now.
I’ve got an upgrade to the “Super Scalper Trading Algorithm” I’ll post on Sunday’s
blog … simpler setup and just as effective in low VIX or high VIX environments
… today was “guinea pig” day for the upgrade as I traded it for my own account
in various markets … for FX, it will perform well in the big 3 of EURUSD, GBPUSD,
& USDJPY, although I don’t want to trade YEN … I have a big problem with
USDJPY … long story short, I simply don’t like trading it for a whole host
of reasons.
For the PAMM I’ll trade EURUSD and use it … for “The Syndicate” I’ll trade
USDCNH at IQCENT and use it … who knows what gets Bitcoin up off its ass?
… if you trade any of the “Stock Bellies” it will perform well there as well, although
for the PAMM Coinexx is the biggest impediment to larger more meaningful
volumes, meaning I’ll stay in FX cuz I can grow the account there in that space
more effectively without getting screwed royally by a bunch of thieving LP’s
… details on Sunday’s blog update.
It’s no secret, I detest NFP Friday’s for trading … always has been and most likely
always will be a wasted trading day as far as I’m concerned … No trades in
anything today, as I put the updated algorithm through some trades to make sure
it’s as effective as I supposed it to be .. it is, no worries … onto Sunday’s update.
… OUTTA HERE … “The future’s so bright I need 2 pairs of sunglasses 😎😎,
and my own Brinks armored truck” 💓!! … Onward & Upward!!
-vegas
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